It is said that the matron's
blood like ice brought forth into this
world a birthing of dragons
and this flowing river of fate
brought light into dark and dark into light,
unveiling at last in cold, cold eyes
the children of chaos...

Murillio is left puzzled by the healing properties of Otataral and wonders if Rallick will recover enough to take on Turban Orr. He also wonders about the Wheel of Ages which names the New Year of the Moon's Tears that is beginning this dawn. Mammot has explained to him that it is a mechanism that was a gift from Icarium to Darujhistan over a millennia ago. Murillio runs into Kruppe who gives him two masks for the Fete at Lady Simtal's and updates him about Coll's healing. Murillio unsuccessfully tries to persuade Kruppe not to attend the event. He accuses Kruppe of being the Eel but Kruppe casts a spell and Murillio promptly forgets what they were talking about.

Anomander Rake informs Baruk that he will also attend the Fete. He suspects a convergence and a gathering of power always attracts more power. Besides, he suspects that most of Darujhistan's powerful nobility will be in attendance and this will make the fete a ripe target for the Claw. When Baruk mentions the new year is just beginning, Rake recognizes its name, the "Year of the Moon's Tears", as coming from one of Icarium's inventions and when Baruk confirms this, Rake advises he should heed Icarium's gifts. Roald announces that Mammot is awake and delivers a message from Kruppe, to say that The Eel will see Baruk at Simtal's Fete that evening. Baruk has his thoughts about the identity of the master-spy. Mammot enters and tells them they have two to three days before the Tyrant will be fully awake. He drops the name of his nephew Crokus into the conversation, making Baruk realise that Crokus and the coinbearer are one and the same, but Mammot seems to know all about it already. Rake confirms that Mammot will be attending the Fete as well, then excuses himself and leaves.

Circle Breaker is one of the guards on the gate and has recognised Lorn from The Eel's description. His fellow guard, Berrute, moans about having to work that evening at Simtal's Fete and Circle Breaker, happy about this stroke of good fortune, volunteers to take his place.

Lorn reaches Quip's Bar where she finds Fiddler, Hedge and Mallet playing cards using the Deck. They have been expecting her and inform her that Whiskeyjack should be back shortly. She observes as Fiddler seems to be inventing the rules as they go. The patterns seem to allude to past and current events, Cotillion's withdrawal, Rake's encounter with the Hounds and him being close by. When Lorn makes a comment, Fiddler enters her into the game and places a card in front of her, Throne, inverted, which he says means that she owes them all ten gold each, an amount which also happens to be that of the Empire Guilt Coin. The game is closed by Orb, true sight and judgment. Whiskeyjack enters and gives her a report about their activities, that the mining is done, that they have not yet managed to contact the Assassins Guild and that the Tiste Andii are in town. When he tells her that they have lost Sorry, Lorn informs them that Sorry had been a spy and is probably hiding. Lorn then assumes command of the mission, telling him that "all this independent crap is over", leaving Whiskeyjack seemingly in an angry mood. The two move to the back room to continue the discussion where they are not overheard. Lorn expresses disbelief at the presence of Andii High Mages and Whiskeyjack tells her about the rooftop encounters. He informs her that they are due to attend Lady Simtal's fete that night as hired guards, where they intend to take out quite a few of the attending council members. Lorn tells him she has some business to take care of but will rendezvous with them in two hours. After she has left, Quick Ben comes out of his hiding place in the room and asks if the Sergeant managed to fool Lorn.

Into the afternoon, Crokus and Apsalar wait atop K'rul's Belfry. Some of Sorry's memories seem to be seeping into Apsalar's mind since she can remember what Unta was like and how big it is, although she thinks she has never been to Unta. Crokus explains his plan to Apsalar; he intends them to go to Simtal's fete where he will be able to speak with Challice. He also mentions that his uncle will be there but omits to explain that he hopes the scholar will be able to look into Apsalar's possession. Apsalar explains that there is something inside her that keeps her together.

Serrat waits in the stairwell and again prepares to attack. However she is ambushed again, and this time she recognises the voice of her attacker who also knows her. He tells her to pass on the warning to Rake as well, that the Coin Bearer will not be harmed, compliments of the Prince. He advises her to take up any objections with their mutual friend and Serrat leaves soon after the visitor.

The Jaghut TyrantRaest awakens. He recalls memories from his childhood when he was just a toddler, how he wrested power and how his mother disowned him and proclaimed the Sundering of Blood even though it broke her. He remembers how he became a Tyrant and tried his power, first over nature, then, when that proved futile, over creatures called the Imass whom he manipulated and controlled though they knew it not. They even proclaimed him their God. He had been unprepared for his own kin banding together to confine him. As he leaves the barrow, he vows he won't be caught off guard again. His plan is to first find his Finnest.

Crone watches from above as the Tyrant emerges from the barrow onto the yellow grassed humps of the Gadrobi Hills then observes the red dragon Silanah leading four black Soletaken dragons closing in on the barrow.

Raest sends out his senses. He attacks the sleeping goddess beneath the earth, deciding for the time being just to wound her rather than kill her. The attack makes her stir but not does not awaken her, nevertheless, causing earthquakes and volcanic eruptions. As he sets out for the location of his Finnest which he judges to be about three days away, he is attacked by the dragons. He recognises Silanah and warns her and the others to keep away but only senses derision from them. He unleashes his Warren in the direction the dragons fly off but is ambushed by them from the side. A ferocious battle ensues as Kurald Galain and Starvald Demelain sorcery collide with the Jaghut's Omtose Phellack.